Sorry, but in the real world there is no such thing as a one time tax, ever. Once they've been able to go to that well they will return to get more, over and over and over.
Second, the VERY WEALTHY or somewhat wealthy or simply wealthy or middle class or anybody else didn't create that debt. Our wonderful fantabulous "leaders" created every cent of that debt ... the same "leaders" that are looking to others to pay of THEIR spending bills.
I guess you missed the part where he said the idea will no longer work since the debt is so high. He made the suggestion in 1999.
I also guess you haven’t read his official tax plan.